AIA Group Ltd Decreases Position in Biogen Inc. (NASDAQ:BIIB)

AIA Group Ltd cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,563 shares of the biotechnology company’s stock after selling 141 shares during the period. AIA Group Ltd’s holdings in Biogen were worth $404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Snowden Capital Advisors LLC boosted its holdings in Biogen by 2.5% in the 2nd quarter. Snowden Capital Advisors LLC now owns 1,591 shares of the biotechnology company’s stock worth $453,000 after buying an additional 39 shares during the period. First Manhattan Co. boosted its holdings in Biogen by 33.3% in the 4th quarter. First Manhattan Co. now owns 160 shares of the biotechnology company’s stock worth $44,000 after buying an additional 40 shares during the period. Systematic Financial Management LP boosted its holdings in Biogen by 2.5% in the 1st quarter. Systematic Financial Management LP now owns 1,640 shares of the biotechnology company’s stock worth $456,000 after buying an additional 40 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Biogen by 1.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after buying an additional 42 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Biogen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after buying an additional 45 shares during the period. 87.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Canaccord Genuity Group cut their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Barclays cut their price target on shares of Biogen from $230.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Oppenheimer cut their price target on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a report on Friday. Mizuho cut their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, Wedbush cut their price target on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $295.58.

Biogen Price Performance

BIIB stock opened at $194.38 on Friday. The firm’s 50-day moving average price is $215.23 and its two-hundred day moving average price is $235.83. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The stock has a market capitalization of $28.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.81 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm posted $4.05 EPS. As a group, equities analysts predict that Biogen Inc. will post 15.47 earnings per share for the current year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock worth $202,030 over the last 90 days. 0.60% of the stock is owned by company insiders.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.